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Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
R U T G E R S                  B U S I N E S S                  S C H O O L

   Fall 2018

Rutgers launches new Center
for Corporate Social Innovation

  Preparing business leaders to achieve both financial success and positive social impact.
Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
A message from Dean Lei Lei
                                                                                                                                            Features
                                                                                                                                                                                                                                                   20
                                                                              In this new issue of Rutgers Business School Impact Report,
                                                                              we are excited to share news about our initiative to be
                                                                              at the forefront of shared-value creation through the
                                                                                                                                               38
                                                                              launch of the Rutgers Institute for Corporate Social
                                                                              Innovation (RICSI).

                                                                              The cover story features Rutgers Business School
                                                                              MBA alumnus Gary Cohen, the founder of RICSI,                                                                                                                       INNOVATIVE MASTER OF SCIENCE IN HEALTHCARE

    Resilient
                                                                                                                                                                                                                                                  SERVICES MANAGEMENT FOR ASPIRING PHYSICIAN
                                                                              and his vision to embed interdisciplinary coursework
                                                                              into curriculum across Rutgers University to prepare
                                                                              students to drive both financial results and to be
                                       				                                   socially responsible.                                                                                                                                                 48
 Resourceful                           We highlight research from faculty that ranges from the impact of financial asset fire sales
                                       to how neuroscience is adding a deeper understanding of decision-making, and present
                                       findings that show clear parental preferences when spending money on their children.

                                       Our academic programs achieved notable recognition including Financial Times naming

 Responsible                           Rutgers Executive MBA No. 5 in the world in economics; QuantNet highlighting the Master
                                       of Quantitative Finance Program as No. 1 among Big Ten business schools; and both of
                                       our undergraduate programs in Newark and New Brunswick were named in the Top 15 for
                                                                                                                                            BRINGING PROFESSORS OF COLOR INTO THE CLASSROOM                                                       ALUMNUS INTRODUCES POKÉ TO NEWARK’S
                                                                                                                                                                                                                                                  LUNCH CROWD

                                       return-on-investment in the U.S. by Poets & Quants.

RUTGERS BUSINESS IMPACT
                                       Rutgers Business School students continue to excel at all levels of programs, from physicians
                                       honing their business skills in our Master of Healthcare Services Management program, to
                                       marketing and supply chain majors getting real-world experience by building a branding
                                       strategy for a bread company, and MBA students competing with the nation’s top business
                                       schools in one of the premier biopharmaceutical case competitions in the country hosted
                                                                                                                                            In this issue                                                                                             SECTIONS

                                       by Rutgers.                                                                                                                                 6      RESEARCH: HOW BRAIN
Fall 2018                                                                                                                                                                                 FUNCTIONING INFLUENCES                                     4		 RESEARCH
                                       Students and alumni have been exposed to top corporate leaders including SY Lau from                                                               MORAL REASONING AND ETHICAL
                                       Tencent, Harvey Schwartz from Goldman Sachs, Roger Ferguson from TIAA and Mark                                                                     DECISION-MAKING                                           11		 RANKINGS
                                       Mendola from PwC. PayPal CEO Dan Schulman addressed educators from all over the
                                                                                                                                                                                   11     RANKING: FINANCIAL TIMES RANKS
                                       U.S. who gathered at our Innovations in Undergraduate Business Education Conference.                                                                                                                         21		 STUDENT SUCCESS
RBS ONLINE                                                                                                                                                                                RUTGERS EXECUTIVE MBA NO. 5 IN
                                       We are proud of our alumni who make an impact in our communities by helping small
                                                                                                                                                                                          THE WORLD IN ECONOMICS
   TWITTER: rutgersbschool             business owners and veterans or by starting businesses in Newark and other cities across                                                                                                                     27		 CORPORATE PARTNERSHIPS
                                                                                                                                                                                   46     ALUMNI: ON A MISSION TO
                                       New Jersey. All of these stories and more are found in the pages of our Rutgers Business                                                           FIND RUTGERS GRADUATES AT
   FACEBOOK: Rutgersbusinessschool     School Impact Report.                                                                                                                              ARLINGTON                                                 37		 SOCIAL IMPACT

   LINKEDIN: rutgers-business-school   We look forward to sharing even more stories in the future of our proud Rutgers Business
                                                                                                                                                                                                                                                    42		 ALUMNI
                                       School community.                                                                                    ON THE COVER:
                                                                                                                                            Rutgers University will be at the forefront of preparing current and future
   YOUTUBE: RBScommunity                                                                                                                                                                                                                            50 ALUMNI PROFILE
                                       Lei Lei, Dean                                                                                        business leaders for the increasing opportunities, expectations, and demands
                                                                                                                                            associated with sustainable development and shared value creation, by launching
   INSTAGRAM: rutgersbschool           Rutgers Business School – Newark and New Brunswick
                                                                                                                                            the new Rutgers Institute for Corporate Social Innovation (RICSI), founded by
                                                                                                                                            Rutgers graduate Gary M. Cohen. (Page 24)
BUSINESS.RUTGERS.EDU
                                                                                                                                            FALL ISSUE 2018: Rutgers Business Impact is a publication of Rutgers Business School
                                                                                                                                            MEDIA CONTACT: Daniel J. Stoll, Director of Communications & Marketing, dstoll@business.rutgers.edu
                                                                                                                                                                                                                                                           Rutgers Business Impact Fall 2018   3
Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
RESEARCH                                                                                                                                                                   RESEARCH

    Asset fire sales – taking a closer look at the
    effect of forced sales by distressed sellers
    SERDAR DINC AND ROSE LIAO, PROFESSORS OF FINANCE & ECONOMICS,
    PROVIDE NEW EVIDENCE ON THE SIZE OF THE FIRE SALE DISCOUNT
                                                                             In finance, fire sales can   which in turn, decreases borrowing

                                                                  I          often have devastating,
                                                                             destabilizing effects.
                                                                             Rutgers Business School
                                                                                                          and real investment.” Based on the
                                                                                                          research, the fire sale discount is
                                                                                                          estimated to be about 8 percent,             …the researchers
                                                              finance professors Serdar Dinc and          controlling for the industry of the

    Serdar Dinc,
    associate professor
                                                              Rose Liao, working with Isil Erel from
                                                              Ohio State’s Fisher College of Business,
                                                                                                          seller and the liquidity of the shares
                                                                                                          sold. The discount can be as high          were able to generate
                                                              provide more understanding about the        as 13 to 14 percent when the stakes

                                                                                                                                                     insights about the fire
    of Finance &
    Economics.                                                effect of the forced sales of assets        sold are larger than 5 percent of
                                                              in a paper published in the Journal         equity. These estimates are much
                                                              of Financial Economics. The authors
                                                                                                                                                    sales of financial assets
                                                                                                          higher than the estimate for forced
                                                              studied 638 transactions in which           sales of stocks by mutual funds
                                                              firms sell minority equity stakes they      for which transaction prices are

                                                                                                                                                    that play an important
                                                              hold in publicly listed third parties.      not available. If sellers of equity
                                                              The transactions provided details           stakes have preferential information
                                                              about the market prices from frequent       motivating them to sell, the price
                                                              trades in shares of the third parties
                                                              as well as the transaction prices
                                                                                                          impact of the fire sale would be
                                                                                                          expected to last. If the price impact     role in financial crises.
                                                              received by the sellers. In addition        is tied to the fire sale itself, market
                                                              to providing more precise estimates         price of the asset should bounce
                                                              of fire sale discounts, by focusing on      back after the sale. In their study,
                                                              equity securities, the researchers were     the authors detected a clear
                                                              able to generate insights about the         pattern of price recovery after the
                                                              fire sales of financial assets that play    distressed sales.
                                                              an important role in financial crises.
                                                             “Asset liquidation often has adverse
                                                              consequences for real economic
                                                              activities,” Liao said. “Financial shocks
                                                              reduce firms’ ability to post collateral,
    Rose Liao, associate professor of Finance & Economics.

4       Rutgers Business Impact Fall 2018                                                                                                                        Rutgers Business Impact Fall 2018   5
Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
RESEARCH                                                                                                                                                                              RESEARCH

    Hardwired for ethical leadership
    A PAPER PUBLISHED IN THE ACADEMY OF MANAGEMENT JOURNAL
    PROVIDES DEEPER UNDERSTANDING ABOUT HOW BRAIN
    FUNCTIONING INFLUENCES MORAL REASONING AND ETHICAL
    DECISION-MAKING
                                                                                      What determines the           through confidential surveys collected

                                                                           D           strong ethics of some
                                                                                       business leaders? A study
                                                                                       published in the Academy
                                                                                                                    from two to five of their peers or
                                                                                                                    subordinates.

                                                                                                                    Another aspect of the research required
                                                                         of Management Journal, suggests

                                                                                                                                                                   Neuroscience will
                                                                         ethical leadership depends on how          each leader to undergo an hour-long
                                                                         their brains are wired.                    electroencephalography session to
                                                                                                                    assess EEG connectivity or coherence,
                                                                         In the study, Danni Wang, an assistant     a measure of the degree of similarity
                                                                         professor of management and global
                                                                         business at Rutgers Business School,
                                                                                                                    between synchronous electrical signals
                                                                                                                    in any set of two different brain regions.   help us understand an
                                                                         and three colleagues provide more
                                                                         understanding about how brain
                                                                         functioning, specifically in the brain’s
                                                                         default mode network, influences moral
                                                                                                                    The results highlighted the roles of
                                                                                                                    both neurological and ideological
                                                                                                                    antecedents of ethical leadership and
                                                                                                                                                                 array of management
                                                                                                                                                                  and organizational
                                                                         reasoning and ethical decision-making.     demonstrated a unique predictor of
                                                                                                                    ethical leadership with a neurological
                                                                         The work expands on earlier                index based on coherence in the right
                                                                         neuroscience research that focused         brain’s default mode network.
                                                                         on the brain’s default mode network
                                                                         and its role in activities such as moral   “In the future,” Wang and her
                                                                                                                     co-authors suggest, “we expect
                                                                                                                                                                      phenomena.
                                                                         reasoning. Wang’s work extends it to
                                                                         provide more specific understanding         that neuroscience may continue to
                                                                         of ethical leadership.                      help inform our understanding of
                                                                                                                     an array of management and
                                                                         The researchers collected data from a       organizational phenomena.”
                                                                         variety of online surveys completed
                                                                         by 104 leaders, including 27 mid- or
                                                                         senior-level U.S. Army officers, 29
                                                                         executive MBA students from a
                                                                         large university in the Southwestern
                                                                         United States and 48 private-
                                                                         sector managers from a variety
                                                                         of organizations. The participants
                                                                         represented different age groups,
                                                                         races and ethnic backgrounds.

                                                                         The selected focal leaders completed
                                                                         surveys measuring their relativism,
                                                                         idealism and narcissism and
                                                                         demographic details. For each leader,
                                                                         the researchers also measured the
                                                                         leader’s ethical leadership style
    Danni Wang, assistant professor of Management and Global Business.

6        Rutgers Business Impact Fall 2018                                                                                                                                  Rutgers Business Impact Fall 2018   7
Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
RESEARCH

    Playing favorites
    STUDY FINDS THAT FATHERS SPEND MORE MONEY ON SONS, WHILE MOTHERS
    TREAT THEIR DAUGHTERS FAVORABLY

                                                                      emember the taunt of                 assistant professor of marketing at the

                                                            R         your brother when you got
                                                                      something new, “Mom likes you
                                                                      better than me.” Well if you’re
                                                                                                           State University of New York-Oneonta,
                                                                                                           and Joseph P. Redden and Valadas
                                                                                                           Griskevicius, marketing professors
                                                          female, it might have been true – at least       at University of Minnesota’s Carlson
                                                          when it came to money.

                                                          In research published in the Journal of
                                                                                                           School of Management, the results have
                                                                                                           important implications: If a culture has a     Multiple lines of
                                                                                                           norm of men controlling family financial

                                                                                                                                                          evidence suggest
                                                          Consumer Psychology, Rutgers Business            decisions, then sons may chronically
                                                          School marketing professor Kristina              receive more resources than daughters.
                                                          Durante and three co-authors explore             If women are the primary shoppers, the
                                                          the age-old issue of favoritism based

                                                                                                                                                            mothers favor
                                                                                                           result could be subtle but consistent
                                                          on parental spending.                            favoritism for daughters.

                                                          The authors conducted four studies to            “The bias toward investing in same-
                                                          determine whether mothers and fathers
                                                          favor specific children depending on the
                                                          sex of the child. Consistently, they found
                                                                                                           gender children occurs because women
                                                                                                           identify more with and see themselves in      daughters, whereas
                                                                                                           their daughters,” Professor Durante told

                                                                                                                                                        fathers favor sons in
                                                          support for fathers favoring sons and            Yahoo Style, “and the same goes for men
                                                          mothers favoring daughters. The parenting        and their sons.”
                                                          biases were found in two different cultures,
                                                          the United States and India.

                                                          In a study involving a hypothetical situation,                                                   their spending.
                                                          250 men and women were given a $50
                                                          gift card and they were asked to imagine
                                                          they had a son and a daughter. Then they
                                                          were asked two questions: “If you have
                                                          enough resources to invest in only one of
                                                          your children, whom would you invest your
                                                          limited resources in?” and, “If you had to
                                                          divide limited resources between your two
                                                          children, how would you divide them?”
                                                          In answering the first question, men chose
                                                          the son 62 percent of the time while
                                                          women chose the daughter 71 percent
                                                          of the time. In response to the second
                                                          question, results showed that men favored
                                                          sons significantly more than women did,
                                                          and vice versa.

                                                          According to the researchers, which
                                                          included Lambrianos Nikiforidis, an
    Kristina Durante, associate professor of Marketing.

8        Rutgers Business Impact Fall 2018                                                                                                                         Rutgers Business Impact Fall 2018   9
Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
RESEARCH                                                                                                                                                                                                                       RANKINGS

     Rutgers faculty research
     published in top journals used                                                                                                       Financial Times ranks Rutgers Executive
     in Financial Times ranking                                                                                                           MBA No. 5 in the world in economics
     Author                       Article Title                                            Publication   Journal Name
                                                                                                                                                      utgers Business School’s                                    Another benefit for students has

                                                                                                                                             R
                                                                                           Date
     Divya Anantharaman           The Economic Consequences of Accounting Standards:       October       The Accounting Review
                                                                                                                                                      Executive MBA program                                       been the “China Experience.” Rutgers
                                  Evidence from Risk-Taking in Pension Plans               2017                                                       was recognized as the No.                                   recognized that the U.S. and Chinese
                                                                                                                                                      5 program in the world                “I felt that the      economies would be inextricably
     Ted Baker                    In The Beginning: Identity Processes and Organizing in   December      Academy of Management            in economics in a Financial Times              program’s global         linked and started sending students
                                  Multi-Founder Nascent Ventures                           2017          Journal                          2017 survey of the top 10 Executive                                     to China for a 10-day summer
                                                                                                                                                                                      recognition, caliber of
                                                                                                                                          MBA programs in selected categories.                                    residency program in Beijing and
     Chao-Chuan Chen              Seeing and studying China: Leveraging phenomenon-        November      Organizational Behavior and
                                                                                                                                          The 20-month program, tailored for         staff, and cost of tuition   Shanghai every year since 1993.
                                  based research in China for theory advancement           2017          Human Decision Processes
                                                                                                                                          executives and managers who wish              combined to make
     Chao-Chuan Chen              Paradoxical Relationships Between Cultural Norms         September     Journal of Business Ethics
                                                                                                                                          to remain on the job while obtaining          choosing Rutgers a
                                  of Particularism and Attitudes Toward Relational         2017
                                                                                                                                          an MBA, has been ranked consistently
                                  Favoritism: A Cultural Reflectivity Perspective
                                                                                                                                          as one of the top 25 Executive MBA
                                                                                                                                                                                      very easy choice,” said
     Weiwei Chen, Benjamin        Cash Conversion Systems in Corporate Subsidiaries        September     Manufacturing & Service
     Melamed, Oleg Sokolinskiy,                                                            2017          Operations Management            programs in the U.S. over the past          Chris Plance, principal
     and Ben Sopranzetti                                                                                                                  10 years.                                  management consultant
     Serdar Dinc and Rose Liao    Fire Sale Discount: Evidence from the Sale of Minority   September     Journal of Financial Economics
                                  Equity Stakes                                            2017                                           Graduates from Rutgers EMBA earned                 at DATUS.
                                                                                                                                          an average of $185,965 three years
     Kristina Durante             Do Mothers Spend More on Daughters While Fathers         January       Journal of Consumer
                                  Spend More on Sons?                                      2018          Psychology                       after graduation, 14th best in the U.S.                                 Elite faculty, relevant curriculum,
                                                                                                                                          Many professionals choose Rutgers                                       globally recognized – makes for a
     Ajai Gaur                    Home Country Supportiveness/Unfavorableness and          January       Journal of International                                                                                 happy student experience.
                                  Outward Foreign Direct Investment from China             2018          Business Studies
                                                                                                                                          Executive MBA over Columbia or NYU
                                                                                                                                          because they are skeptical that they
     Harsharanjeet Jagpal         A Flexible Method for Protecting Marketing Data: An      January       Marketing Science
                                                                                                                                          can extract enough value for the high
                                  Application to Point-of-Sale Data                        2018
                                                                                                                                          tuition costs at those institutions:
     Kihyun Kim                   The Relative Influence of Economic and Relational        February      Journal of Marketing Research    $196,200 at Columbia Business
                                  Direct Marketing Communications on Buying Behavior       2018
                                  in Business-to-Business Markets
                                                                                                                                          School and $189,200 at NYU Stern
                                                                                                                                          compared to $94,042 for Rutgers
     Daniel Levin                 Performance Benefits from Providing Assistance In        February      Journal of Management
                                  Networks: Relationships That Generate Learning           2018                                           Executive MBA.

     Ashwani Monga                Eliciting Time versus Money: Time Scarcity Underlies     December      Journal of Consumer Research     “I felt that the program’s global
                                  Asymmetric Wage Rates                                    2018
                                                                                                                                           recognition, caliber of staff, and cost
     Daniel Levin and             Performance Benefits from Providing Assistance In        February      Journal of Management             of tuition combined to make choosing
     Neha Shah                    Networks: Relationships That Generate Learning           2018                                            Rutgers a very easy choice,” said
     Markus Taussig               The Danger of Not Listening to Firms: Government         October       Academy of Management             Chris Plance, principal management
                                  Responsiveness and the Goal of Regulatory Compliance     2017          Journal                           consultant at DATUS, and a current
     Danni Wang                   A Neurological and Ideological Perspective of            August        Academy of Management             student in the Rutgers Executive MBA
                                  Ethical Leadership                                       2017          Journal                           program. “Discussions of how to
                                                                                                                                           handle difficult ethical scenarios, and
                                                                                                                                           stressing that the character of those
                                                                                                                                           involved may be the most critical
                                                                                                                                           element in ensuring good outcomes is
                                                                                                                                           an element that Rutgers cannot easily
                                                                                                                                           advertise. But I believe allows the
                                                                                                                                           program to produce graduates who
                                                                                                                                           stand out from the crowd,” he said.

10       Rutgers Business Impact Fall 2018                                                                                                                                                                            Rutgers Business Impact Fall 2018   11
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RANKINGS                                                                                                 RANKINGS

                                                                         Rutgers Business
                                                                         School-Newark No. 2
                                                                         in the U.S. for diversity
                                                                         BUSINESS MAJORS EXPERIENCED
                                                                         ONE OF THE BEST RETURN-ON-
                                                                         INVESTMENTS IN THE NATION
                                                                                    utgers Business School-Newark

                                           “Students who graduate
                                                                         R          earned the No. 2 spot among U.S.
                                                                                    business schools for enrolling the most
                                                                                    minorities, according to Poets & Quants.
                                                                         It also ranked No. 5 for enrolling the most first-
                                            from RBS leave better        generation students.

                                           prepared to be successful     Poets & Quants compiled the ranking based on the
                                                                         percentage of new students who described themselves
                                         business leaders in a diverse   as the first-generation of their families to attend a
                                         and global workforce,” said     U.S. college. The diversity ranking reflects students
                                                                         from under-represented minority groups in the
                                          Robert Kurland, associate      Class of 2017.

                                          dean of the undergraduate      Charles Brown, Rutgers Business School’s
                                                                         assistant dean for diversity programs, said it was an
                                         program at Rutgers Business     honor to receive the No. 2 ranking for enrolling
                                               School – Newark.          the most minorities.

                                                                         “To know that the work we do each day has contributed
                                                                          to this distinction makes us all very proud,” he said.

                                                                         When it comes to return-on-investment, the Newark
                                                                         undergraduate program landed in the No. 15 spot,
                                                                         according to Poets & Quants. The ranking was based on
                                                                         a five-year return-on-investment analysis.

                                                                         Robert Kurland, associate dean of the undergraduate
                                                                         program at Rutgers Business School-Newark, said the
                                                                         rankings confirm what the RBS community already
                                                                         knows about “our quality programs and services.”

                                                                         “Students who graduate from RBS-Newark leave better
                                                                          prepared to be successful business leaders in a diverse
                                                                          and global workforce,” he said.

                                                                         Rutgers Business School-Newark – like the entire
                                                                         Rutgers University-Newark campus – continually ranks
                                                                         among the most diverse college campuses in the U.S.

12   Rutgers Business Impact Fall 2018                                                        Rutgers Business Impact Fall 2018     13
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RANKINGS                                                                                                                                                                                                                                     RANKINGS

                                                                                                                                         Supply chain management
                                                                                                   Through experiential learning,
                                                                                                   Rutgers MQF students apply
                                                                                                   mathematical and computer
                                                                                                   models to tackle the same valuation
                                                                                                   challenges real investment firms
                                                                                                   are facing.
                                                                                                                                         department ranks No. 8 in the
                                                                                                                                         world for faculty research
                                                                                                                                         Rutgers Business School’s Supply Chain Management Department was recently
                                                                                                                                         ranked No. 8 in the world by the academic publication SCM Journal List.

                                                                                                                                         The publication’s ranking was based on research produced by supply chain
                                                                                                                                         management faculty at Rutgers Business School and published by leading
                                                                                                                                         academic journals in the field during the past five years. The SCM Journal List

     Master of Quantitative Finance program                                                                                              considers output that is primarily empirically focused.

                                                                                                                                         Supply chain management faculty at Rutgers have produced research (and

     No. 8 for starting salary in North America                                                                                          are considered experts) on managing supply chain disruptions, sustainability,
                                                                                                                                         innovative modeling for managing supply chain operations and the interface
                                                                                                                                         of supply chain operations and finance.

        T
                  he Rutgers Master of           roles in the financial industry before they
                  Quantitative Finance           graduate,” said Ronnee Ades, director of
                  Program was ranked No. 8 in    career management for the MQF program.
                  North America for average      Some of the jobs the most recent
                                                                                                           Rutgers MQF
                                                                                                                                                                                               Rutgers University No. 4 in
                  starting salary among its      graduates of the Rutgers MQF program
     most recent graduates, according to         have taken include senior quantitative
     QuantNet.com.                               analyst, risk analyst, quant trading strategist            program has
     Rutgers Business School’s overall program
                                                 and credit and liquidity risk analyst.
                                                                                                         consistently been                                                                     Military Times Best Colleges
     was ranked No. 16 in North American by
     QuantNet, making it the No. 1 program
     among the Big Ten business schools.
                                                 “For our MQF students, being ‘job ready’
                                                  does not mean simply graduating with
                                                  stellar grades, it means comprehending
                                                                                                           ranked among                                                                        for Vets annual ranking
     The most recent cohort of Rutgers            the types of challenges and opportunities              the Top 20 quant                                                                      Rutgers landed in the No. 4 spot in the nation in the Best Colleges 2018
     MQF students reported an average             facing finance companies and working                                                                                                         ranking by the Military Times. Six hundred U.S. schools participated and
     starting salary of $92,500. In QuantNet’s    toward contributing to the solutions,” said                programs.                                                                         the Military Times named 218 of them in its 2018 ranking. The Military
     methodology, average starting salary         Ades. “Through experiential learning,                                                                                                        Times used data from the federal Education, Defense and Veterans Affairs
     accounted for 20 percent of a program’s      our students can apply mathematical                                                                                                          departments to see how the schools stacked up in five areas: university
     score in the ranking.                        and computer models to tackle current                                                                                                        culture, academic quality and outcomes, student support, academic
                                                  valuation challenges that real investment                                                                                                    policies, cost and financial aid.
     The ranking also considered the              firms are facing.”
     employment rate at graduation, the                                                                                                                                                        While Rutgers University was included in the most recent Best Colleges
     employment rate three months after          Rutgers MQF program has consistently been                                                                                                     ranking, many veterans and active service people attend programs at Rutgers
     graduation and an employer survey score     ranked among the Top 20 quant programs.                                                 Veteran Eric Kropiwnicki, who completed the Rutgers   Business School, including Rutgers Business School Executive Education’s
     generated from employers who have                                                                                                   Business School Executive Education Mini-MBA:         Mini-MBA: Business Management for Military and Veterans.
     interviewed or hired (within the past       QuantNet.com is the world’s                                                             Business Management for Military and Veterans, is
     two years) from one or more of the 29       largest online resource and                                                             honored for his leadership by Margaret O’Donnell,     “This certificate program is unique in that it is taught by veterans who have
     programs included in the 2018 ranking.      community for applicants and                                                            manager of Military and Veteran Engagement Programs   gone on to business success,” said Margaret O’Donnell, manager of Military
                                                 professionals in the field of financial                                                 at Rutgers Business School. Kropiwnicki is CEO of     and Veteran Engagement Programs at Rutgers Business School. “It also
     “We believe students need to understand     engineering, quantitative finance                                                       Broken Gear Inc.                                      culminates with four months of mentorship to virtually ensure success.”
      the real requirements of quantitative      and big data analysis.

14        Rutgers Business Impact Fall 2018                                                                                                                                                                                             Rutgers Business Impact Fall 2018      15
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RANKINGS                                                                                                                                                                                  RANKINGS

                                                                                                                           Students in The Rutgers chapter of Future Business
                                                                                                                           Leaders of America-Phi Beta Lambda participate in
                                                                                                                           competitions, immerse themselves in interactive
                                                                                                                           workshops, and hear from motivational speakers at
                                                                                                                           the annual national conference.

                                                                                     a variety of case competitions, a      Among Big 10 business schools, Rutgers
     For return on investment, R
                                                       utgers Business School-
                                                       New Brunswick ranked          host of student organizations that     Business School-New Brunswick ranked
                                                       No. 12 for return on          enable members to connect with         No. 7 in the Poets & Quants listing of Best

     Rutgers Business School is               investment in a new listing by
                                              Poets & Quants. The ranking is
                                              based on a five-year return-on-
                                                                                     faculty and corporate supporters
                                                                                     and contact with influential
                                                                                     people are among the factors that
                                                                                                                            Colleges for Business Majors.

     hard to beat                             investment analysis.                   contribute to RBS student success,”
                                                                                     Markowitz said. “All of these
                                                                                                                                           “Rutgers Business School provides
                                              Poets & Quants also ranked the         factors combined with modern
     UNDERGRADUATE PROGRAM IN NEW             overall undergraduate program          new business school facilities                        many opportunities for students to
                                              at Rutgers Business School-New
     BRUNSWICK IS NO. 2 PUBLIC BUSINESS       Brunswick as No. 38 in the U.S.,
                                                                                     about one hour away from New
                                                                                     York City, the nation’s business
                                                                                                                                             become successful and that is
     SCHOOL IN THE NORTHEAST U.S.             in its 2017 Best Undergraduate         center, give the best students the                      reflected in the new ranking.”
                                              Business Programs.                     best chances for succeeding in
                                                                                     their careers.”                                                                Martin Markowitz
                                              “Rutgers Business School provides
                                               many opportunities for students       Based on the latest Poets & Quants
                                               to become successful and that is      ranking, Rutgers Business School’s
                                               reflected in the new ranking,” said   program in New Brunswick is also
                                               Martin Markowitz, senior associate    the No. 2 public business school
                                               dean of Rutgers Business School-      undergraduate program in the
                                               New Brunswick.                        Northeast and No. 18 among
                                                                                     public business schools in the U.S.
                                              “Early career preparation, top-level
                                               challenging internships, access to

16      Rutgers Business Impact   Fall 2018                                                                                                                                     Rutgers Business Impact Fall 2018   17
Rutgers launches new Center for Corporate Social Innovation - RUTGERS BUSINESS SCHOOL - Rutgers ...
RANKINGS                                                                                                                                                                                           RANKINGS

                           Prominent Program Rankings
                                                                                                     Rutgers Business School                                                                   Best Value Highlights
                          U.S. News & World Report                                                   master’s programs ranked
                          Rutgers Full-Time MBA:
                          #1 Public MBA in New York, New Jersey & New England                        among the “Top 50 Best Value“                                                       #4
                                                                                                                                                                                                 #4 in Top 30 Best Value
                                                                                                                                                                                                 Digital Marketing Certificate
                          Rutgers Part-Time MBA:                                                               alue Colleges recently published its “Top 50 Best Value” rankings in
                          #1 Public MBA in Northeast                                                   V       which a range of Rutgers Business School programs were recognized.

                          Supply Chain / Logistics                                                             According to the methodology, “Value Colleges researches                          #11 in Top 50 Best Value
                          #6 in U.S.                                                                 reputable, accredited colleges and universities to produce rankings of college      #11     Master’s in Taxation
                                                                                                     degree programs with the lowest tuition, the best return on investment, the
                          Online Master’s in Governmental Accounting                                 best job placement statistics, and the best ratios between all of those factors.”
                          #8 in the U.S.
                                                                                                                                                                                                 #13 in Top 50 Best
                          Online Master’s in Supply Chain Management                                                                                                                     #13     Value Online Master’s in
                          #9 in the U.S.                                                                                                                                                         Accounting

                          Financial Times
                          Rutgers Executive MBA:                                                              Among top college degree                                                           #14 in Top 50 Best
                                                                                                                                                                                         #14     Value Online Master’s in
                          #5 in Economics in the world
                                                                                                          programs with the lowest tuition,                                                      Management
                          Rutgers Executive Education:
                          #11 in the U.S. for open enrollment programs                                      the best return on investment,                                                       #16 in Top 50 Best Value
                                                                                                                                                                                         #16
                                                                                                         and the best job placement statistics.                                                  Graduate Schools

                          The Economist
                          Rutgers Executive MBA:                                                                                                                                                 #32 in MBA Programs
                                                                                                                                                                                         #32
                          #6 in number of industry sectors from which students applied in the U.S.
                          #7 in student diversity in the U.S.
                          #8 Percentage increase on pre-EMBA salary on graduation in the U.S.

                          Ivy Exec
                          Rutgers Executive MBA:
                          #1 for Life Balance in Northeast
                          #7 for Career Advancement in Northeast
                          #7 Overall in Northeast

                          Gartner
                          Supply Chain Management Undergraduate Program:
                          #2 in North America

18   Rutgers Business Impact   Fall 2018                                                                                                                                                   Rutgers Business Impact Fall 2018     19
STUDENT SUCCESS

     Innovative graduate program gives                                                                                                 Two student groups from Rutgers win
     aspiring physician the business skills                                                                                            2018 Hult Prize regional competitions
     to run his own practice in the future                                                                                                           or approximately a

                    hen Ahmar Mehmood                                                                                                     F          decade, the Hult Prize
                                                                                                                                                     has been awarded

       W
                                                                                                                                                     to masterminds and
                    was in his third year of                                                                                           innovators who understand the
                    medical school in Karachi,                                                                                         power of a single idea. This year,
                    Pakistan, interacting with                                                                                         Rutgers has set a new record by
     patients, listening and doing his best
     to help treat them, he learned first-          Healthcare services                                                                having two teams from the same
                                                                                                                                       university as titleholders of the Hult
     hand the importance of an effective
     administration supporting patient care.
                                                       management                                                                      Prize Regional Competitions. The
                                                                                                                                       two teams, SULIS and LivingWaters,
     He saw care delayed, and patients                 is a growing                                                                    are collectively comprised of eight
     and their families anxiously waiting for
     answers oftentimes due to ineffective            and changing                                                                     Rutgers students who took up the
                                                                                                                                       2018 Hult challenge — employing                 Members of the LivingWaters team from left to right: Shrey Ghate, Jane Peterken, Joshua Kao,
     communication amongst the team
     of attending physicians. “I believe
                                                      space with an                                                                    the power of energy to transform
                                                                                                                                                                                       and Thomas Irving (RBS).

                                                                                                                                       the lives of 10 million people                                                                  sophomore, Sarah Pomeranz, a
     that no matter how competent the               increased demand                                                                   by 2025, said Sophia Zhou, the                                                                  Rutgers Business School sophomore,
     physicians are, until the healthcare                                                                                                                                                      After winning the                       Anurag Modak, a School of Arts
     support system around them is                    for healthcare                                                                   campus director of the Hult Prize at
                                                                                                                                       Rutgers. After winning the Hult Prize                  Hult Prize @ Rutgers                     and Sciences sophomore and Arye
     complete and functions cohesively,
     optimal patient care cannot be
                                                        managers.                                                                      @ Rutgers University competition in                  University competition in                  Mendelow, a School of Engineering
                                                                                                                                       December, team SULIS moved on                                                                   senior developed a device that
     delivered,” said Mehmood. Healthcare                                                                                              to the Boston regional competition                   December, team SULIS                       harnesses sunlight to sanitize water
     services management is a growing                                                                                                  and captured the award there as                      won the Boston regional                    for communities around the world
     and changing space with an increased                                                                                              well. Four Honors College students                                                              that have limited access to clean
     demand for healthcare managers
                                                 Ahmar Mehmood is gaining business knowledge and skills in Rutgers Business School’s                                                         competition while team
                                                 innovative Master’s in Healthcare Services Management program.                        joined forces to create SULIS, which                                                            water. The second team from the
     who can improve business and clinical                                                                                             stands for solar ultraviolet light-
                                                                                                                                                                                               Living Waters won                       University, LivingWaters, applied
     outcomes. Rutgers Business School’s                                                                                               induced sterilization. Yuki Osumi,                         in Shanghai.                         through the competition’s online
     Master of Science in Healthcare                                                                                                   a School of Arts and Sciences                                                                   general application pool against
     Services Management (MSHSM)                                                                                                                                                                                                       100,000 other applicants and
     provides students with the tools,                                                                                                                                                                                                 became champions of the Shanghai
     insight and expertise to                                                                                                                                                                                                          regional finals, beating more than
     be successful operational leaders                                                                                                                                                                                                 50 of the top Asian universities,
     in the healthcare provider space.                                                                                                                                                                                                 Zhou said. Joshua Kao, a Rutgers
     A multidisciplinary and innovative                                                                                                                                                                                                Business school junior, Jane Peterken,
     program, the MSHSM offers a                                                                                                                                                                                                       a School of Engineering senior,
     customized, business-oriented                                                                                                                                                                                                     Thomas Irving, a Rutgers Business
     and practice-based MBA curric-                                                                                                                                                                                                    School senior and Shrey Ghate, a
                                                 now, I understand that the absence           also playing a role in healthcare
     ulum applied to the healthcare                                                                                                                                                                                                    School of Engineering senior, make
                                                 of electronic medical records back           administration in the future” said
     services sector.                                                                                                                                                                                                                  up the team. They devised a cost-
                                                 home affected care of many critically        Mehmood. “Being the spouse of a
                                                                                              physician in training at Rutgers, I am                                                                                                   effective, do-it-yourself unit that
      The program is designed to hone            ill patients,” said Mehmood. “Looking
                                                                                              confident that the MSHSM program                                                                                                         harvests rainfall to help hydrate
      leadership and develop a data-driven       back, I realize how an effective
                                                                                              will help us realize our dream of                                                                                                        millions of people who live within
      process orientation, helping provider      healthcare system itself can save
                                                                                              owning a practice and adding value                                                                                                       water stressed zones.
      managers improve quality, reduce           thousands of lives.” As an aspiring
      costs and increase patient satisfaction.   physician in the U.S., I plan to             to the healthcare system, not only       Members of team Sulis from left to right: Anurag Modak, Yuki Osumi, Sarah Pomeranz (RBS) and
                                                                                              here but also in my home country,”       Ari Mendelow; and Sophia Zhou, campus director of the Hult Prize at Rutgers.
     “Working in the U.S. healthcare industry    broaden my skills as a clinician for
                                                                                              Mehmood said.

20         Rutgers Business Impact   Fall 2018                                                                                                                                                                                            Rutgers Business Impact Fall 2018           21
STUDENT SUCCESS                                                                                                                                                                                                                                         STUDENT SUCCESS

     Award-winning summer orientation                                                                                                                 Biopharmaceutical case competition
     program provides underserved students
     a strong start to college life                                                                                                                   attracts nation’s top schools
                   he Business Student                                                                                                                               he cases at the heart of       pursuing management roles in the              Risha Lathiya, a Rutgers MBA student, said

         T                                                                                                                                                T
                   Transition At Rutgers                                                                                                                             the Rutgers Biopharma          biopharmaceutical industry.                   the competition offered a “challenging,
                   (B-STAR) program provides                                                                                                                         MBA Case Competition                                                         very real-world case and an opportunity
                   students with a unique                                                                                                                            organized by the Blanche       The 2017 competition attracted                to apply everything you’ve learned in the
                                                                       Charles A. Brown, assistant
                   orientation to college life                         dean for diversity programs,                                                                  and Irwin Lerner Center        applications from 22 schools, according       classroom to a real-world situation.”
     and a support system to sustain them                              described the program as the                                                   for the Study of Pharmaceutical               to Professor Mahmud Hassan, who is also
     through the four-year journey.                                    most influential six weeks of the                                              Management Issues help to attract             director of the Lerner Center. In addition    “I really wanted to have that experience,”
                                                                       students’ academic journey.                                                    MBA students studying pharmaceutical          to Rutgers and Anderson, students from        she said. Lathiya teamed up with MBA
     Twenty-seven incoming freshmen                                                                                                                   management at the nation’s leading            Columbia Business School, Georgetown’s        classmates Andy Evans, Kevin Hsu,
     celebrated the completion of the B-STAR                                                                                                          business schools.                             McDonough School of Business, the             Magdalena Kwieciszewska and Sean May
     program, which launches them into                                                                                                                                                              Carey Business School at Johns Hopkins,       to represent Rutgers in the competition.
     college as the newest B-STARs at Rutgers                                                                                                         A team of Rutgers MBA students finished       MIT, Boston University, Duke’s Fuqua
     Business School.                                                                                                                                 second after UCLA’s Anderson School           School of Business, Carnegie Mellon’s         The competition was sponsored by Bayer,
                                                                                                                                                      of Management captured the top prize          Tepper School of Business and Cornell’s       Novartis, Bristol-Myers Squibb, Novo
      Their graduation marked the culmination                                                                                                         at Rutgers Business School’s annual           Johnson Graduate School of Management         Nordisk, Herspiegel Consulting, Model N,
      of six credits worth of college course                                                                                                          biopharmaceutical case competition.           participated in the event.                    Nuvera Life Science Consulting and the
      work, special sessions and a unique                                                                                                                                                                                                         Buchanan, Ingersoll Rooney law firm.
      orientation to life at Rutgers Business                                                                                                         Andrew Clark, a second year MBA student
      School. Charles A. Brown, assistant dean                                                                                                        at Anderson, said he and his classmates
      for diversity programs, described it as                                                                                                         wanted to participate in the competition
     “the most influential six weeks of their                                                                                                         because it focuses specifically on the
      academic journey.”                                                                                                                              biopharmaceutical industry.

     B-STAR is run by Brown with the support                                                                                                          “The competition has a good reputation,”
     of the dean’s office. The program, one                                                                                                           Clark said, “and we thought it would be
     of the strongest examples of Rutgers                                                                                                             a way to network with companies that
     Business School’s ability to have social                                                                                                         don’t recruit often from the West Coast.”
     impact, reflects its commitment to
     diversity, inclusion and access.                                                                                                                 After six years, the biopharmaceutical
                                                                                                                                                      case competition has grown into one of
                                                                                                                                                      the premier events for MBA students

          The program is one of the                    Some of the B-STAR students before the graduation ceremony.
        strongest examples of Rutgers
          Business School’s ability to                                                                                                                                                                                                           Rutgers MBA students, Andrew Evans, Magdalena
             have social impact.                                                                                                                                                                                                                 Kwieciszewska, Kevin Hsu, Risha Lathiya and Sean
                                                                                                                                                                                                                                                 May (not pictured) won second place in
                                                                                                                                                                                                                                                 the competition.

     “My office is here to support you,” Brown
      said. He encouraged the students to “take
      advantage of resources, to support one
      another and to seize opportunities.”
      Thirty-two percent of the students who
      have completed the B-STAR program are
      the first in their families to attend college.
      Two of this year’s B-STAR students
      will study at Honors Living-Learning
      Community at Rutgers University-Newark.

                                                       Some of the incoming Rutgers Business School students who completed the 2017 B-STAR Program.   Rutgers MBA Students Andy Evans and Magdalena Kwieciszewska.

22         Rutgers Business Impact     Fall 2018                                                                                                                                                                                                     Rutgers Business Impact Fall 2018              23
experienced in working across the           the world today,” said Robert Barchi,
                                                                                                                                      private, public and nonprofit sectors       20th president of Rutgers, The State
                                                                                                                                      to achieve positive business and            University of New Jersey. “It is our
                                                                                                                                      societal impact. He presently serves        job to equip future business leaders
                                                                                                                                      as executive vice president, Global         with not only the knowledge and
                                                                                                                                      Health for BD (Becton, Dickinson and        skills to succeed in business, but also
                                                                                                                                      Company), one of the world’s largest        the mindset needed to be a force for
                                                                                                                                      medical technology companies. He            positive change.”
                                                                                                                                      also serves as president and board
                                                                                                                                      director of the BD Foundation, board
                                                                                                                                      director of the Perrigo Company,
                                             The Rutgers Institute for Corporate Social                                               CDC Foundation and UNICEF USA,                      Cohen is well

                                                                                              I
                                                                                                       n this emerging era of
                                             Innovation will collaborate closely with                                                 board co-chair of GBCHealth and                recognized as a leader
                                             schools across the university.
                                                                                                       sustainable development,
                                                                                                                                      board chair and founder of Together
                                                                                                       it is becoming essential
                                                                                                       for business leaders to
                                                                                                                                      for Girls. Cohen previously served               deeply experienced
                                                                                          possess the full range of perspectives,
                                                                                                                                      on the UN Commission on Life                      in working across
     Rutgers Business School and
                                                                                                                                      Saving Commodities for Women
                                                                                          experiences and skills that enable
                                                                                                                                      and Children, and is a member of the             the private, public
                                                                                          them to lead in a manner that
                                                                                                                                      UN Secretary General’s Network of               and nonprofit sectors
     MBA Alumnus Gary M. Cohen to                                                         results in positive outcomes for
                                                                                          their companies, employees and
                                                                                                                                      Engaged Men Leaders.
                                                                                                                                                                                       to achieve positive
     establish new Rutgers Institute                                                      shareholders, and for society at large.

                                                                                          As one of the world’s leading academic
                                                                                                                                      “Throughout my career at BD I’ve
                                                                                                                                      had the privilege of working in a
                                                                                                                                                                                           business and
                                                                                                                                                                                         societal impact.
     for Corporate Social Innovation                                                      research institutions, Rutgers
                                                                                          University will be at the forefront
                                                                                                                                      company that is purpose-driven,
                                                                                                                                      highly successful and strongly oriented
                                                                                                                                      towards achieving positive impact on
                                                                                          of preparing current and future
     A G LO B A L S H I F T I S U N D E R WAY I N T H E R O L E A N D                     business leaders for the increasing
                                                                                                                                      society. I’ve learned through these
                                                                                                                                      experiences that creating positive          The new Rutgers Institute for
                                                                                          opportunities, expectations, and
     EXPECTATIONS OF BUSINESS LEADERSHIP. COMPANY                                                                                     social impact is not at odds with strong    Corporate Social Innovation will
                                                                                          demands associated with sustainable                                                     feature a dedicated curriculum
                                                                                                                                      business performance, rather, it is a key
     L E A D E R S A R E E X P E C T E D N OT O N LY TO A C H I E V E                     development and shared value                                                            designed to prepare the next
                                                                                                                                      enabler to the long-term success and
                                                                                          creation, by launching the new                                                          generation of business leaders to
     COMMERCIAL SUCCESS FOR THEIR ENTERPRISES, THEY                                                                                   sustainability of companies,” Cohen
                                                                                          Rutgers Institute for Corporate Social                                                  integrate socially and environmentally
                                                                                                                                      said. “The business sector has the
                                                                                          Innovation (RICSI).                                                                     responsible practices and shared value
     ARE ALSO INCREASINGLY BEING HELD ACCOUNTABLE FOR                                                                                 potential to drive substantial progress
                                                                                                                                      in addressing many of the world’s most      creation into the core of their business
                                                                                          Founded by Rutgers graduate Gary
     THEIR COMPANIES’ OVERALL IMPACT AND INFLUENCE                                                                                    important problems, and external            operations and culture. Coursework will
                                                                                          M. Cohen, RC’80 and RBS’83, and
                                                                                                                                      stakeholders including investors            include classes on sustainable
     ON SOCIETY                                                                           supported by his intent to contribute
                                                                                                                                      are demanding more of business              business management,
                                                                                          $1 million to the Rutgers University
                                                                                          Foundation for the establishment of         leaders than at any time in the past.
                                                                                          this new institute, the Rutgers Institute   This is a perfect opportunity for
                                                                                          for Corporate Social Innovation will        Rutgers to advance these practices by
                                                                                          embed interdisciplinary coursework          preparing current and future business
                                                                                          into the Rutgers Business School            leaders for these important challenges.
                                                                                          curriculum to prepare students to           And it can be a pathway to a fulfilling,
                                                                                          drive successful business results in        purpose-filled life for future business
                                                                                          sustainable organizations that are          executives.”
                                                                                          financially, environmentally and
                                                                                                                                      “The business sector has the capacity
                                                                                          socially responsible.
                                                                                                                                      to apply its expertise to some of the
                                                                                          RICSI founder Cohen is well                 most pressing societal issues facing
                                                                                          recognized as a leader deeply

24       Rutgers Business Impact Fall 2018                                                                                                                                                                                   Rutgers Business Impact Fall 2018   25
CORPORATE PARTNERSHIPS

     developing ethical business models,
     social and green accounting, driving
     business opportunities through
                                                Jersey Medical School, the School of
                                                Public Affairs and Administration, the
                                                School of Public Health, the School of
                                                                                          Rutgers University and Rutgers
                                                                                          Business School will build on Cohen’s
                                                                                          intended contribution to establish
                                                                                                                                       Leaders stress building the right
                                                                                                                                       culture at annual CEO Evolution
     positive societal change, and              Environmental and Biological Sciences,    RICSI and sustain it into the future. This
     ecological and behavioral economics.       and the Edward J. Bloustein School of     new institute is expected to generate
                                                Planning and Public Policy.               substantial interest from the broad
     Cohen, who previously served as a                                                    number of industries in New Jersey and
     member of the Rutgers University           “We are putting together a strong                                                                   he CEO Evolution,

                                                                                                                                          T
                                                                                          nationwide, consistent with the trend
     Board of Trustees and on the board of      team of highly motivated business         of emphasizing the sustainability of                      hosted by Citrin
     advisors for Rutgers Business School,      school faculty and working with other     business enterprises.                                     Cooperman and
     was named a distinguished alumnus          schools at Rutgers to instill corporate                                                             Rutgers Business
     by the Rutgers Graduate School of          social innovation into our curriculum                                                  School, brought together some of
     Management in 2005 and a Rutgers           and classroom teaching,” said Rutgers                                                  New Jersey’s most notable CEO’s to
     250 Fellow in 2017.                        Business School Dean Lei Lei. “The                                                     share their experiences, strategies,
                                                establishment of the Rutgers Institute                                                 and best practices to help others
     While housed within the Rutgers            for Corporate Social Innovation will                                                   gain insights into becoming
     Business School, the Rutgers Institute     allow us to strengthen and sustain                                                     better leaders.
     for Corporate Social Innovation will       our goal of preparing students
     collaborate closely with other schools     for leadership in these important                                                      The panel discussion, moderated          Notable CEOs (from left) Paul Kermizian, Tara Dowdell, Dan Berkowitz, and Chris Lotito share
     in the university, including the New       competencies and practices.”                                                           by Will Fernandez, CPA and partner       their experiences with moderator Will Fernandez, CPA and partner at Citrin Cooperman..
                                                                                                                                       at Citrin Cooperman, expanded
                                                                                                                                       specific situations to broader           experiences. Paul Kermizian, CEO                   as soon as he emerged from Rio
                                                                                                                                       applications for the benefit of          and co-founder of Barcade said,                    Secreto, the longest semi sunken
                                                                                                                                       others in leadership roles.              “I have to make time for my                        cave system in the Yucatan. “We
                                                                                                                                                                                managers and visit each location.                  have got to do a concert in there!”
                                                                                                                                       Each of the CEO Evolution panelists,     I empower them to make decisions.”                 Not long after that call, Berkowitz
                                                                                                                                       in her or his own way, said that                                                            surprised a group of 150 fans with
                                                                                                                                       finding capable people was not a         Chris Lotito spoke of his early                    a performance by Chris Stapleton
                                                                                                                                       problem. What they needed, and           entrepreneurial spirit that continues              and wife Morgane in the natural
                                                                                                                                       worked hard to find, were people         today with innovative and creative                 amphitheater.
                                                                                                                                       who fit the company culture. Tara        additions at Lotito Foods. “When I
                                                                                                                                       Dowdell, founder, owner and CEO          was 12, my friends had paper routes
                                                                                                                                       of Tara Dowdell Group said, “I           and I had an egg route,” said Lotito.
                                                                                                                                       wanted to build a company where          “I bought bulk, loose eggs from the
                                                                                                                                       people thrive, grow and learn.”          farmers’ market, packaged them in
                                                                                                                                                                                egg cartons, and sold them for twice                         Chris Lotito
                                                                                                                                       While each of the panelists had very
                                                                                                                                       different histories and businesses,
                                                                                                                                                                                my cost.”                                                 spoke of his early
                                                                                                                                       they all shared some similarities.       Dan Berkowitz, founder and CEO                          entrepreneurial spirit
                                                                                                                                       They are all driven, hands-on            of CID Entertainment, told a story
                                                                                                                                       managers, who watch every detail.        about a team member scouting
                                                                                                                                                                                                                                        that continues today
                                                                                                                                       And they all invest time and effort      a location for a fan experience in                       with innovative and
                                                                                                                                       into their people and their customers’   Mexico who called very excited
                                                                                                                                                                                                                                        creative additions at
                                                                                                                                                                                                                                            Lotito Foods.

26        Rutgers Business Impact   Fall 2018                                                                                                                                                                                         Rutgers Business Impact Fall 2018        27
CORPORATE PARTNERSHIPS                                                                                                                                                                                                                      CORPORATE PARTNERSHIPS

      A growing artisan bread company is hoping a
      team of Rutgers Business School students can                                                                                                                                                                                        Rutgers Business School seniors Akshay Patel,

      help it attract more millennial customers                                                                                                                                                                                           Alyssa Nungra, Brian Lilien and Kristen Tse won
                                                                                                                                                                                                                                          the top prize and an opportunity to execute a
                                                                                                                                                                                                                                          branding strategy for Hudson Bread.
      WHEN KRISTEN TSE AND HER TEAM WON A RECENT COMPETITION
      SPONSORED BY HUDSON BREAD, THEY RECEIVED MORE THAN
      $6,000 IN PRIZE MONEY. THEY WON AN OPPORTUNITY TO PUT
                                                                                                    Seniors Akshay Patel,
      THEIR WINNING IDEA TO WORK FOR THE COMPANY                                                    Alyssa Nungra, Brian
                   se, a Rutgers Business
                                                                                                     Lilien and Kristen

         T
                   School senior who is          “There are a lot of agencies we could have         Tse won the top prize
                   studying marketing and         hired,” said Mark Kolodziej, president
                   supply chain, teamed up        of Hudson Bread, “but we wanted                    and an opportunity                      Kolodziej said the team’s campaign           practice on the marketing department            The runner up in the competition was a
                   with seniors, Brian Lilien,    something unique.”                                                                         demonstrated a “passion and enthusiasm”      faculty, co-organized the competition.          team composed of Sonam Patel, Kelly
      Alyssa Nungra and Akshay Patel in a Nov.                                                           to execute a                        for what they were promoting.                                                                Rogers, Sharon Friederwitzer and Linda
      17 competition against three other teams   That thinking led them to Rutgers
      from Rutgers.                              Business School where they worked
                                                                                                    branding strategy for                    Rutgers Business School seniors Akshay
                                                                                                                                                                                          “They have a great opportunity to apply
                                                                                                                                                                                           what they learned in the classroom
                                                                                                                                                                                                                                          Dong. The team won $3,000. Two other
                                                                                                                                                                                                                                          teams of students also participated in the
                                                 with Dean Lei Lei and members of                      Hudson Bread.                         Patel, Alyssa Nungra, Brian Lilien and        in developing a marketing campaign             competition sponsored by Hudson Bread.
      The competition challenged the             the marketing faculty to organize a                                                         Kristen Tse won the top prize and an          to increase the brand awareness and            Each of the finalist teams won $1,000.
      students to create a brand awareness       competition that would challenge                                                            opportunity to execute a branding             engagement for a ‘real life’ client and see
      campaign for Hudson Bread, a North         students to create a branding strategy for                                                  strategy for Hudson Bread.                    the results in ‘real time,’” Toncre said.
      Bergen-based artisan bakery that has       Hudson Bread.                                  The winning team’s campaign called for
      opened cafes in Secaucus and North                                                        re-positioning the company to play up        Erich Toncre, an assistant professor of      As she spoke about the prospect of
      Bergen. As the company positions itself     Ray Million, Hudson Bread’s vice              its organic qualities and described how it   professional practice and director of        working for Hudson Bread, Tse sounded
      for growth, its top executives want to      president of operations, said they wanted     would target millennials in its marketing.   marketing education at Rutgers Business      just like someone about to start a
      create more brand awareness around          a branding campaign that captured             The team also explained how its              School, said the experience transforms       new job. “Having the company hire us to
      Hudson Bread using digital marketing.       the essence of the company, from its          members would refresh the company’s          the students into marketing professionals.   implement the idea will be a great
      They want a campaign that will reach and    ownership to the quality of its ingredients   social media accounts and use Google         Toncre and Marc Kalan, who is also an        experience,” Tse said. “I’m a little nervous.
      resonate with new smartphone-using         – all the things that go into making their     Adwords to make its digital marketing        assistant professor of professional          It’s both exciting and nerve-wracking.”
      consumers and Millennials.                  breads unique.                                more effective.

28         Rutgers Business Impact   Fall 2018                                                                                                                                                                                               Rutgers Business Impact Fall 2018              29
CORPORATE PARTNERSHIPS                                                                                                                                                                                                                                 CORPORATE PARTNERSHIPS

     Our link to China and the growing                                                                                                             Revlon | Elizabeth Arden marketing
     power of technology                                                                                                                           SVP demonstrates career path to
     SY LAU, SENIOR EXECUTIVE VICE PRESIDENT AT
     TENCENT, WHICH IS LARGER THAN FACEBOOK, LOOKS
                                                                                                                                                   undergrad students
                                                                                                                                                                ahul Mehrotra, senior vice

                                                                                                                                                       R
     INTO THE FUTURE OF TECHNOLOGY
                                                                                                                                                                president of marketing
                                                                                                                                                                services, Revlon |
                   enior executive vice                      is bringing the Internet connection

         S
                                                                                                           He stressed that in spite of the                     Elizabeth Arden, shared
                   president and chair of                    advantages of urban areas to                  growing power of technology,            his winding and changing career path
                   group marketing and                       the countryside and poorer                    people still have an important role.    with Rutgers Business School marketing
                   global branding at China’s                mountainous villages. The Tencent
                                                                                                                                                   and management students during the
     technology giant Tencent Holdings Ltd.                  Charity Foundation launched the               “Technology doesn’t have values,
                                                                                                                                                   Business Leaders Speaker Series.
     SY Lau spoke informally with Rutgers                    WeCountry open platform and                    people do. You must fight the
     Business School students in an                          offered mobile Internet tools, free            potential dark force within            He told students that he knew what
     intimate setting at Clement’s Place.                    resources and training workshops.              technology – declining moral           he liked and did not like, but “you can’t
                                                                                                            compass, loss of privacy and                                                       Students asked a wide range of thoughtful questions and received straight answers.
                                                                                                                                                   really plan your career path.”
     Lau, who completed a Rutgers                           “Tencent hopes that by pooling                  cybercrime – with a sense of                                                        Sophomores Anushtha Mittal and                 “Absolutely,” agreed Jogani. “A big
     Executive MBA in 2004, spoke about                      village resources and providing                                                       “I had certain areas where I knew I did
                                                                                                            urgency and responsibility,” said                                                   Nimit Jogani enjoyed listening to               take-away for me was his message
     his career and gave a preview of his                    development and communication                                                          not want to go: legal, human resources.
                                                                                                            Lau. “We are the global caretakers                                                  what Mehrotra had to say. They                  that you can’t strictly plan your career.
     remarks for the CEO Lecture Series.                     support, more young people will                                                        I followed my interests and pushed
                                                                                                            for future generations and each                                                     found Mehrotra’s career journey and             I really liked his approach of taking
     Students spent nearly 30 minutes                        start businesses locally,” said Lau.                                                   to take positions outside the usual
                                                                                                            of us must do our part.”                                                           “lessons learned” very encouraging.              different positions and learning from
     chatting with Lau, a pioneer of the                                                                                                            progression, to learn new skills and       “He was very inspirational,” Mittal said.        every experience.”
     Internet industry in China.                                                                                                                    to learn different sides of businesses,”   “I appreciated his ‘straight forward’
                                                                                                                                                    said Mehrotra.                              way of speaking to us, and his
     “This is so exciting. I would never have                   “Technology and the Internet are changing                                                                                       unconventional career journey.”
      this opportunity in China,” said Yang                                                                                                        Kristina Durante, associate professor
      Luo, a Rutgers Master of Information                      nearly every industry and job,” SY Lau said.                                       and marketing department Ph.D.
      Technology student. “I am from China,                                                                                                        coordinator, moderated the lively
      where everyone uses (Tencent’s)                                                                                                              question and answer period.
      WeChat, QQ.com, QQ (instant
      messenger) QQ Games and Tenpay.”                                                                                                             Mehrotra’s bachelor degree was in
                                                                                                                                                   metallurgical engineering and materials
     One of the short videos that Lau                                                                                                              science. “While I quickly learned that
     showed demonstrated how Tencent                                                                                                               I did not enjoy that work, I applied
                                                                                                                                                   myself to learning the mathematical,
                                                                                                                                                   analytical, number-crunching that
                                                                                                                                                   would be so useful to me throughout
                                                                                                                                                   my career,” he said.

                                                                                                                                                    His marketing MBA fit his interests
                                                                                                                  SY Lau met with students in       and set the foundation to his career.
                                                                                                                  an informal setting, providing   “I didn’t remember specific lessons
                                                                                                                  a unique opportunity to           long, but I focused on learning the
                                                                                                                  talk directly with one of
                                                                                                                  China’s leaders in advancing
                                                                                                                                                    fundamentals of business very
                                                                                                                  technology and the internet.      well,” Mehrotra said. “Learn the
                                                                                                                                                    fundamentals and be able to apply
                                                                                                                                                    them to new and unexpected
                                                                                                                                                    situations,” he advised.
     “We are the global caretakers for future generations and each of us must do our part,” SY Lau said.

30         Rutgers Business Impact      Fall 2018                                                                                                                                                                                                  Rutgers Business Impact Fall 2018        31
CORPORATE PARTNERSHIPS                                                                                                                                                                                                                                         CORPORATE PARTNERSHIPS

     Alumnus Harvey Schwartz shares insights
     on his journey to Wall Street with students
     and alumni
                     arvey Schwartz, president

        H
                     and co-chief operating
                     officer at Goldman Sachs,
                     spoke to hundreds of
                      Rutgers students about his
      journey to Wall Street, the value
      of mentoring, and disruption in the
      financial industry.

      Schwartz, BS ’87, who studied economics
      as a Rutgers University undergraduate,
      was instrumental in launching the
      Road to Wall Street, an eight-year-old
      program that grooms students for jobs
      in the financial industry’s biggest banks
      and connects them to alumni who are
      already there.                                Goldman Sachs executive Harvey Schwartz returned to the Livingston Campus to speak with
                                                    students and alumni.
      In an hour-long talk moderated by
      finance professor Ben Sopranzetti,                                                            told students, “don’t forget about your
      Schwartz described his motivation for                                                         responsibility in that relationship.”
      starting the program.
                                                                                                                                                   Some students were invited to meet with alumnus Harvey Schwartz during a private reception before his talk. Photos: Lauren Guiliano.
                                                                                                    He described creativity as a quality that
     “I knew Rutgers students were having a                                                         differentiates people in an industry                                                             from someone who has been in our shoes
      hard time getting jobs on Wall Street,”               “It was a great                         where there are a lot of smart people         “I’m in an incredibly fortunate position           and listen to how he was able to get
      he said. “I tried to identify someone
      (a Rutgers graduate) at every firm and
                                                        opportunity for us to                       and where technology continues to bring
                                                                                                   “very quick, exhilarating changes.”
                                                                                                                                                   right now,” he said. “I have time to              to where he is,” Shamir said. “It gets us
                                                                                                                                                   contemplate things.”                              excited about the opportunities we have.”
      brought them together over dinner.”                hear from someone
                                                                                                   “The trends today may be more
      Schwartz described his own path to                who has been in our                         fascinating than ever,” he said. “There are
                                                                                                                                                   More than 400 people – Rutgers
                                                                                                                                                   students, alumni, faculty, and staff –
      Wall Street as “unconventional.” After             shoes and listen to                        incredible things happening.”                  filled a theater-style lecture hall at
      graduating from Rutgers, Schwartz said                                                        Technology has enabled those changes
      he jumped from job to job before a               how he was able to get                       for decades, he said, but the pace is
                                                                                                                                                   Rutgers Business School for Schwartz’s
                                                                                                                                                   visit. Rutgers Business School Dean Lei
      friend helped him to get a job at Citibank.          to where he is.”                         faster now and more sweeping.                  Lei, who welcomed him, also ended the
                                                                                                                                                   event by thanking Schwartz “for a very
      While he was enamored with economics                        Johnny Shamir                     Schwartz discussed his views on the            inspiring conversation.” The night will be
      from the start, he wasn’t really aware                                                        fundamental value of cryptocurrencies.         a “lasting memory for all of us,” Lei said.
      of Wall Street or the opportunities that                                                      In a lively exchange with Christian Buren,
      existed in the financial industry. But he                                                     a Rutgers Business School sophomore,           Schwartz’s talk did make an impression
      did benefit from people who were willing                                                      Schwartz was invited to speak with             on Johnny Shamir, who studies finance
      to take time to help him and give him                                                         members of RutgersBit, a new student           and business analytics and information
      opportunities.                                Livingston Campus. “I’ve always prided          club formed around the intense interest        technology and attended the event with
                                                    myself on being a mentor to as many             in cryptocurrencies.                           his friend, Amol Lotia, a sophomore
     “I owe Rutgers an incredible debt,”            people as I could,” he said.                                                                   studying economics. They both said they
      Schwartz said.                                                                                When Sopranzetti asked about                   were struck by Schwartz’s down-to-earth
                                                    Ensuring that the mentor-mentee                 Schwartz’s pending retirement, Schwartz        style and the intimate nature of his talk.
      He said he got his own introduction to        relationships work, Schwartz said, is           said after decades of being a hyper-
      mentoring as a resident adviser when he       the burden of the mentee. “As you               manager of his time, he thought this          “It was a great opportunity for us to hear
      was a student living in the Quads on the      progress in whatever you’re doing,” he          was a time when “no plan is a plan.”

32         Rutgers Business Impact   Fall 2018                                                                                                                                                                                                             Rutgers Business Impact Fall 2018   33
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